⚡ DIVERGENCEPG&E stock rises ahead of its October 22 earnings call
The news is upbeat, but options holders have built more put protection than call bets, a cautious lean that does not match the upbeat tone.
Fool - Investing News · 10/09
Undercurrent · Money-flow snapshot
EIX Max Pain, Dark Pool & Options Flow
EIX max pain for the Oct 16, 2026 expiry is $60, from the Thu Oct 8 options chain. The last price, $55.30, is 7.8% below it. Call wall $60 · put floor $55.
What the institutional money is doing on EIX right now — dark pool, options positioning, and where the news and the money disagree. Free.
The money right now
Dark pool share
36.7% (market avg 52%)
Dark pool volume vs its norm
0.9×
Short share of that
45.0% (norm 50%)
Price
$55.30
Max pain
$60
Oct 16 exp
Call wall
$60
Oct 16 exp
Put floor
$55
Oct 16 exp
Put/Call ratio
1.22
Squeeze pressure
5
Dark pool share: 37% off-exchange — 15pp below the market
Off-exchange prints never touch the public book, so they move size without moving the quote. That is the point of using them. Most of the day cleared on the lit market — either there was nothing to hide, or the large players sat out. Short share of the off-exchange piece: 45% vs a 50% norm.
Source: FINRA · Fri 10/9 close
What it means: The money signals for EIX are mostly neutral: off-exchange volume is near its normal level and its short share sits close to its own norm. Options positioning leans defensive, with more puts than calls held, while squeeze pressure is low.
News vs the money
Gradient Investments raises its Edison International stake by 4.6%
This is a small institutional holding update, and the options lean toward puts is unchanged, so the two point in no clear direction.
Defense World · 10/09
Edison International declares a quarterly dividend of $0.88 per share
A routine dividend payout is consistent with the neutral off-exchange trading, though the defensive options lean is unchanged.
Defense World · 10/05
Weekly roundup of dividend increases, changes, and upcoming ex-dividend dates
This general roundup gives no company-specific signal, and the money data stays neutral to defensive.
Seeking Alpha · 10/02
Analysts shuffle ratings on Edison International and other major stocks
Analyst rating changes are not reflected in the money data, which shows steady off-exchange volume and a defensive options lean.
247 Wallst · 10/02
See it live, free
Get Undercurrent — the news behind the money →Add EIX to My Watchlist in the free SIGNUM HQ app (iPhone · Android) →New to this? Why'd It Move? turns today's move into a 60-second lesson →What is a “divergence”?
A divergence is when the news narrative and the institutional money flow point in opposite directions — a bearish headline while large call premium is bought, or heavy dark-pool selling under a bullish story. It signals the crowd and the desks may disagree.
How to read these numbers
Dark-pool volume — The share of trading executed off-exchange, at wholesalers and dark pools. About half of all US share volume prints there on an ordinary day, so the level by itself says almost nothing. What carries information is the distance from this name’s own recent norm, and whether the off-exchange size ran above its usual.
Off-exchange short share — How much of that off-exchange volume was sold short. The median across all listed names is about 49%, because wholesalers filling retail buy orders sell short and cover later. A reading near half is plumbing, not a bearish vote — compare it to the same name’s own 20-day norm.
Max pain — The price where the most options expire worthless — positioning often gravitates toward it near expiry.
Call wall / Put floor — Strikes with the heaviest call/put open interest — they often act as short-term resistance and support.
Put/Call ratio — Below ~0.7 leans bullish (more calls); above ~1 leans defensive (more puts).
Nearby tickers
Today’s off-exchange leaders → · See all tickers →Today’s rankings — what broke from normal
Learn the numbers